The Hellenic Republic Asset Development Fund S.A. is initiating an international tender process for the development of two real estate properties in the area of Gournes in Hersonissos, Heraklion Crete.

The properties consist of (a) a land plot of approximately 30,000 sq.m. and (b) a beachfront land plot of approximately 316,000 sq.m.

The surrounding area of the properties has a significant growth potential, mainly due to tourism and residence development. The greater area concentrates plenty of modern infrastructures of supra-local importance and range, such as the International Exhibition Center, the Cretaquarium, the University of Crete, the Science and Technology Park of Crete, the Industrial Area of Heraklion, Heraklion International Airport “Nikos Kazantzakis”, luxury hotels and a golf course.

The properties are easily accessible, mainly due to the fact that they are located on the Northern Crete Highway, 16 km from Heraklion port, 13 km from the International Airport "Nikos Kazantzakis" and 10 km from the extremely popular settlement of Hersonissos.

The properties offer unique opportunities for urban regeneration and recovery, as well as for the creative use of the coastal area, for the development of a landmark area with national importance and international visibility.

The properties will be developed according to the Greek Law No. 3986/2011, as applicable.